Question
ProConnect: Converting Rental Real Estate to Personal Use
Situation:
- Client bought property early in the year
- Client rented property for two months and collected rent
- Client moved into property and converted to personal use
I’m trying to get the program in ProConnect to generate the two months of depreciation.
From what I see, ProConnect has a tough time with these conversions. It seems like the guidance is:
- To enter the number of days used as a rental property, but don’t enter the number of personal days.
- To list the property as a disposition with a sell date as of the date of conversion but don’t enter a sale price.
Is this correct? Or should I list the number of personal days in ProConnect?
